Saturday, 19 June 2010

We do not know the future outcomes of the Van Rompuy task force on economic governance, but Treaty on the Functioning of the European Union (TFEU) and the Stability and Growth Pact form the existing framework for multilateral budget surveillance and efforts to curb excessive government deficits in the European Union.

The purpose of this blog entry is twofold: 1) This post offers an example of how the excessive deficit procedure works. 2) The blog entry leads readers to the materials concerning the budget situation in Cyprus and the first stages of the excessive deficit procedure.